Monthly Archives: May 2017

Las Vegas Posts 3rd Best Job Gains Among Major Metros in April

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Unemployment rates were lower in April than a year earlier in 322 of the 388 metropolitan areas, higher in 46, and unchanged in 20, the U.S. Bureau of Labor Statistics reported today. Fifty-six areas had jobless rates of less than 3 percent and three areas had rates of at least 10 percent. Nonfarm payroll employment… Read more »

Las Vegas Predicted to Have 3rd Highest Job Growth Through 2020

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A new report prepared for the U.S. Conference of Mayors, the Council on Metro Economies and the New American City tabulates recent trends in employment growth and makes some predictions about where things are headed through the end of the 2010s. Las Vegas was tied for 3rd in the nation for job growth from 1990 to… Read more »

Large Gap Between Jobs & Wages In Nevada Recovery

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Nationally, the unemployment rate is down to 4.4%, and in Nevada it’s down to 4.7%. By most projections, that puts us at or near full employment – definitions vary but the unemployment rate essentially flattens and new hiring requires enticing workers to leave a current job. While the rate is generally reaching the point associated… Read more »

Nevada’s Headline Unemployment Rate Down to 4.7% in April

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According to Nevada’s Department of Employment, Training, and Rehabilitation (DETR) the state’s unemployment rate fell slightly to a seasonally adjusted 4.7 percent in April, the 67th straight month of year-over-year declines of 1 percent or more. Nevada was expected to add 5,700 jobs in April, based upon historical trends, but actually added 17,000 to payrolls,… Read more »

65% of Las Vegas Jobs Could Be Lost to Automation by 2035

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New research by the Institute for Spacial Economic Analysis finds that Las Vegas could be hit harder than any other major metro by automation. ISEA used a 2013 Oxford study which rated the probability of automation for the 700 most common jobs, and then applied that to the mix of jobs in the 100 metros with… Read more »

Homes in Short Supply, Prices and Sales Up in April

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Local home prices continued to climb in April amid what leaders of the Greater Las Vegas Association of REALTORS® (GLVAR) are now calling a housing shortage. GLVAR reported today that the median price of existing single-family homes sold during April through its Multiple Listing Service (MLS) increased to $249,000. That was up 2.9 percent from March… Read more »

Economic Updates – Week of May 1, 2017

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Via Economic Calendar, here are the top pieces of US economic news to keep an eye out for this week: 1. US ISM manufacturing The latest ISM manufacturing index was released on Monday May 1st at 10.00 ET. The March ISM manufacturing data recorded a slight slowdown, but there was a more substantial slowdown in the Markit… Read more »

How Nevada’s Spending Has Changed Post-Recession

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A few weeks ago we looked at changes in Nevada’s revenue through the state’s recovery from the Great Recession. Today, as the Economic Forum meets to determine how much revenue we’ll have for the biennium, we head back over to Pew to look at the other side of the equation – spending. From fiscal year… Read more »